talbotlucas.org: a word to the wise is sufficient

Learning the language of the law is one thing, but taking accounting and financial analysis exposes one to a whole new circle of acronym hell. FIFO and LIFO and GAAP, oh my! To bring a little levity to my studies in this area I'm trying to make the acronyms more entertaining: for example, I've now got this picture in my head of a hive of little black-and-yellow striped FASBs (say it with me--fazbees) humming like mad and s-l-o-w-l-y making the honey (i.e., statements and interpretations) that feeds the accounting profession. Given what we've learned thus far I think honeybees work much faster at producing honey than the real FASB works at producing its statements of accounting principles, but that's another matter, and one on which others are much better able to comment.

Back to my calculator and T-accounts...the day is still young, and there's a lot to do...